ChainML Raises $6.2M in Seed Extension Round

by Kay Aloha Villamor in May 14th, 2024

ChainML, a San Francisco, CA-based web3-enabled AI platform, has raised $6.2 million in seed extension funding. 

The funding round was completed at the end of last year and is now being announced alongside the introduction of ChainML's agentic base layer, Theoriq. 

Investors 

The round was led by Hack VC, with participation from Foresight Ventures, Inception Capital, HTX Ventures, Figment Capital, Hypersphere Ventures, and Alumni Ventures. 

Founded in 2021, Hack VC is a web3 venture capital firm based in New York, New York. They partner on- and off-chain with hackers building the future of the internet. The firm seeks to invest in information technology, SaaS, e-commerce, artificial intelligence, cryptocurrency, and financial technology sectors. 

ChainML Use of Funds 

The company plans to utilize the funds to hire additional personnel across its engineering, research, and go-to-market teams. Additionally, the funding will facilitate the launch of Theoriq's testnet scheduled for this summer, followed by the mainnet release later this year. 

About ChainML 

Founded in 2022, ChainML is a company focused on AI and ML development and research. The company's agentic base layer, Theoriq, serves as a framework for autonomous AI agents capable of executing complex tasks within the web3 ecosystem. Leveraging blockchain technology, Theoriq enables agent registration, payment, and security, positioning itself as a key driver of value creation in web3. 

Funding Details  

Company: ChainML  

Raised: $6.2M   

Round: Seed Extension  

Funding Month: May 2024   

Lead Investors: Hack VC   

Additional Investors: Foresight Ventures, Inception Capital, HTX Ventures, Figment Capital, Hypersphere Ventures, Alumni Ventures  

Company Website: https://www.chainml.net/   

Software Category: Web3 AI  

Source: https://www.theblock.co/post/294078/web3-ai-platform-chainml-funding-theoriq  

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